Canada: Cashew Nut Market Overview 2021

Cashew Nut Market Size in Canada

In 2020, the Canadian cashew nut market was finally on the rise to reach $X for the first time since 2017, thus ending a two-year declining trend. Over the period under review, consumption, however, continues to indicate a abrupt downturn. The pace of growth appeared the most rapid in 2013 when the market value increased by X% year-to-year. Over the period under review, the market attained the peak level at $X in 2007; however, from 2008 to 2020, consumption remained at a lower figure.

Cashew Nut Production in Canada

In value terms, cashew nut production totaled $X in 2020 estimated in export prices. In general, production saw a relatively flat trend pattern. Over the period under review, production reached the peak level in 2020 and is expected to retain growth in years to come.

The average yield of cashew nuts in Canada was estimated at X kg per ha in 2020, leveling off at the year before. Over the period under review, the yield recorded a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2020, the harvested area of cashew nuts in Canada totaled X ha, approximately reflecting the previous year. Over the period under review, the harvested area continues to indicate a relatively flat trend pattern.

Cashew Nut Exports

Exports from Canada

In 2020, approx. X kg of cashew nuts were exported from Canada; declining by -X% compared with 2019. In general, exports recorded a sharp setback. The growth pace was the most rapid in 2009 when exports increased by X% y-o-y. Exports peaked at X tonnes in 2015; however, from 2016 to 2020, exports remained at a lower figure.

In value terms, cashew nut exports dropped rapidly to $X in 2020. Over the period under review, exports showed a precipitous contraction. The most prominent rate of growth was recorded in 2009 with an increase of X% against the previous year. Over the period under review, exports hit record highs at $X in 2015; however, from 2016 to 2020, exports stood at a somewhat lower figure.

Exports by Country

Turks and Caicos Islands (X kg) was the main destination for cashew nut exports from Canada, accounting for a approx. X% share of total exports.

From 2007 to 2020, the average annual growth rate of volume to Turks and Caicos Islands was relatively modest.

From 2007 to 2020, the average annual growth rate of value to Turks and Caicos Islands was relatively modest.

Export Prices by Country

The average cashew nut export price stood at $X per tonne in 2020, reducing by -X% against the previous year. In general, the export price recorded a mild reduction. The pace of growth was the most pronounced in 2008 when the average export price increased by X% year-to-year. The export price peaked at $X per tonne in 2011; however, from 2012 to 2020, export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Turks and Caicos Islands.

From 2007 to 2020, the rate of growth in terms of prices for Turks and Caicos Islands amounted to X% per year.

Cashew Nut Imports

Imports into Canada

For the third consecutive year, Canada recorded decline in purchases abroad of cashew nuts, which decreased by -X% to X tonnes in 2020. Overall, imports faced a abrupt curtailment. The pace of growth was the most pronounced in 2013 when imports increased by X% against the previous year. Imports peaked at X tonnes in 2007; however, from 2008 to 2020, imports remained at a lower figure.

In value terms, cashew nut imports declined markedly to $X in 2020. In general, imports showed a abrupt descent. The most prominent rate of growth was recorded in 2013 when imports increased by X% y-o-y. Over the period under review, imports reached the peak figure at $X in 2007; however, from 2008 to 2020, imports remained at a lower figure.

Imports by Country

In 2020, Viet Nam (X tonnes) constituted the largest supplier of cashew nut to Canada, with a X% share of total imports. Moreover, cashew nut imports from Viet Nam exceeded the figures recorded by the second-largest supplier, Ghana (X tonnes), fivefold. The third position in this ranking was occupied by the U.S. (X tonnes), with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume from Viet Nam totaled -X%. The remaining supplying countries recorded the following average annual rates of imports growth: Ghana (+X% per year) and the U.S. (+X% per year).

In value terms, Viet Nam ($X) constituted the largest supplier of cashew nut to Canada, comprising X% of total imports. The second position in the ranking was occupied by Ghana ($X), with a X% share of total imports. It was followed by the U.S., with a X% share.

From 2007 to 2020, the average annual growth rate of value from Viet Nam stood at -X%. The remaining supplying countries recorded the following average annual rates of imports growth: Ghana (+X% per year) and the U.S. (+X% per year).

Import Prices by Country

In 2020, the average cashew nut import price amounted to $X per tonne, with a decrease of -X% against the previous year. In general, import price indicated a notable expansion from 2007 to 2020: its price increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, cashew nut import price decreased by -X% against 2018 indices. The most prominent rate of growth was recorded in 2008 an increase of X% y-o-y. Over the period under review, average import prices attained the peak figure at $X per tonne in 2013; however, from 2014 to 2020, import prices remained at a lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was Iran ($X per tonne), while the price for Viet Nam ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Ghana, while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for cashew nuts in the world?

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India (1.6M tonnes) remains the largest cashew nut consuming country worldwide, comprising approx. 44% of total volume. Moreover, cashew nut consumption in India exceeded the figures recorded by the second-largest consumer, Viet Nam (348K tonnes), fivefold. The Philippines (258K tonnes) ranked third in terms of total consumption with a 7% share.

What are the largest producers of cashew nuts in the world?

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The countries with the highest volumes of cashew nut production in 2020 were Cote d'Ivoire (864K tonnes), India (754K tonnes) and Ghana (346K tonnes), together accounting for 47% of global production. These countries were followed by Viet Nam, the Philippines, Tanzania, Benin, Mali, Guinea-Bissau, Burkina Faso, Brazil, Indonesia and Mozambique, which together accounted for a further 45%.

What are the leading suppliers of cashew nuts to Canada?

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In value terms, Viet Nam ($250K) constituted the largest supplier of cashew nut to Canada, comprising 57% of total imports. The second position in the ranking was occupied by Ghana ($114K), with a 26% share of total imports. It was followed by the U.S., with a 9.2% share.

What is the average export price for cashew nuts in Canada?

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In 2020, the average cashew nut export price amounted to $1,857 per tonne, which is down by -25.9% against the previous year.

What is the average import price for cashew nuts in Canada?

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The average cashew nut import price stood at $4,305 per tonne in 2020, waning by -36.1% against the previous year.